Juan Cole: First McCain said he didn't see the meltdown coming, then he said he saw it

About that claim by McCain that he warned about the mortgage crisis:

McCain:"But -- but let me -- let me point out, I also warned about Fannie Mae and Freddie Mac and warned about corporate greed and excess, and CEO pay, and all that. A lot of us saw this train wreck coming."

In fact, he has already admitted that he did not see the financial meltdown coming.

"But I don't really know of anybody,with the exception of a handful, who said, 'wait a minute, this thing is getting out of hand and is over-heating.' I'd like to be able to tell you I anticipated it, but I have to give you straight talk, I did not."